Global Industrial (NYSE:GIC) Sees Unusually-High Trading Volume – Here’s Why

Shares of Global Industrial (NYSE:GIC) saw unusually-strong trading volume on Tuesday . Approximately 147,400 shares changed hands during trading, an increase of 23% from the previous session’s volume of 119,601 shares.The stock last traded at $24.31 and had previously closed at $24.21.

Global Industrial Stock Up 0.4 %

The stock has a market cap of $950.17 million, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88. The company’s 50-day simple moving average is $26.51 and its 200-day simple moving average is $30.47.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The company had revenue of $342.40 million during the quarter, compared to analyst estimates of $353.44 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, analysts expect that Global Industrial will post 1.59 EPS for the current fiscal year.

Global Industrial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 4.02%. Global Industrial’s dividend payout ratio is currently 58.82%.

Insiders Place Their Bets

In other Global Industrial news, Vice Chairman Bruce Leeds sold 5,840 shares of Global Industrial stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the transaction, the insider now directly owns 23,675 shares in the company, valued at approximately $669,529. The trade was a 19.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 65.30% of the company’s stock.

Institutional Trading of Global Industrial

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its position in Global Industrial by 2.1% during the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after buying an additional 397 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Global Industrial by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock valued at $4,104,000 after acquiring an additional 456 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Global Industrial by 9.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock valued at $299,000 after purchasing an additional 786 shares during the period. Sei Investments Co. lifted its position in shares of Global Industrial by 7.5% in the second quarter. Sei Investments Co. now owns 22,124 shares of the company’s stock worth $694,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in shares of Global Industrial during the third quarter worth approximately $61,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.